Equity Accounted Investments (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Summary of Company's Investments in and Advances to Joint Ventures

A condensed summary of the Company’s investments in and advances to equity accounted investments are as follows (in thousands of dollars, except percentages):

				As at December 31,
Investments in Equity Accounted Investments	Ownership Percentage			2012 $		2011 $
Malt Joint Venture (note 3b)		52	%		183,724		—
RasGas 3 Joint Venture		40	%		107,386		97,423
Exmar Joint Venture		50	%		82,737		81,242
Angola Joint Venture		33	%		28,699		16,063
Sevan Marine Equity Investment (note 3a)		43	%		39,223		34,898
Tiro and Sidon Joint Venture		50	%		30,024		—
Other		40% to 50%			8,250		10,911
Total					480,043		240,537
				As at December 31,
Loans to Equity Accounted Investees	Ownership Percentage			2012		2011
Sevan Marine Equity Investment		43	%		133,000		50,000
Tiro and Sidon Joint Venture		50	%		18,121		—
Other		40% to 50%			55,782		35,248
Total					206,903		85,248

Condensed Summary of Company's Financial Information for Joint Venture

A condensed summary of the Company’s financial information for equity accounted investments (33% to 52% owned) shown on a 100% basis are as follows:

	As at December 31,
	2012 (1)(2)		2011 (2)
Cash and restricted cash		229,963		184,296
Other assets- current		125,152		105,925
Vessels and equipment		2,114,435		462,335
Net investment in direct financing leases		1,938,011		1,728,902
Other assets—non-current		228,887		188,384
Current portion of long-term debt (3)		1,106,706		106,584
Other liabilities—current		193,785		138,945
Long-term debt		1,911,419		1,567,215
Other liabilities—non-current		469,220		395,750

	Year ended December 31,
	2012 (1)(2)			2011 (2)			2010 (4)
Revenues		659,030			303,607			232,516
Income from vessel operations		241,702			118,408			91,290
Realized and unrealized loss on derivative instruments		(56,307	)		(127,230	)		(95,750	)
Net income (loss)		120,395			(48,996	)		(44,794	)

(1) The results included for the Teekay LNG-Marubeni Joint Venture are from the date of acquisition of the MALT LNG Carriers which were acquired on February 28, 2012.

(2) The results included for the Angola Joint Venture are from the time the vessels were delivered in August, September, October 2011 and January 2012, respectively.

(3) The Teekay LNG-Marubeni Joint Venture expects to refinance its existing debt facility maturing in August 2013 with two long-term project facilities and a medium-term facility, secured by all of the vessels under the joint venture as well as through several guarantees from the joint venture partners based on their relative share holdings.

(4) The results included for the Excalibur and Excelsior Joint Ventures are from November 4, 2010.